Capital Fund Management S.A. Reduces Stake in Coty Inc. (COTY)
Capital Fund Management S.A. decreased its position in Coty Inc. (NYSE:COTY) by 91.9% during the second quarter, Holdings Channel reports. The institutional investor owned 27,325 shares of the company’s stock after selling 308,272 shares during the period. Capital Fund Management S.A.’s holdings in Coty were worth $710,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. EFG Asset Management Americas Corp. boosted its position in Coty by 35.0% in the first quarter. EFG Asset Management Americas Corp. now owns 144,705 shares of the company’s stock worth $4,091,000 after buying an additional 37,524 shares during the period. Envestnet Asset Management Inc. boosted its position in Coty by 23.8% in the first quarter. Envestnet Asset Management Inc. now owns 34,440 shares of the company’s stock worth $958,000 after buying an additional 6,611 shares during the period. Legal & General Group Plc boosted its position in Coty by 4.9% in the first quarter. Legal & General Group Plc now owns 4,443 shares of the company’s stock worth $124,000 after buying an additional 207 shares during the period. Bayesian Capital Management LP purchased a new position in Coty during the first quarter worth about $476,000. Finally, Invictus RG boosted its position in Coty by 137.3% in the first quarter. Invictus RG now owns 15,718 shares of the company’s stock worth $437,000 after buying an additional 9,095 shares during the period. Hedge funds and other institutional investors own 17.44% of the company’s stock.
Coty Inc. (NYSE:COTY) traded up 0.22% during mid-day trading on Tuesday, reaching $22.96. 16,986,529 shares of the company’s stock were exchanged. Coty Inc. has a 12 month low of $21.48 and a 12 month high of $31.60. The stock has a 50-day moving average of $25.03 and a 200-day moving average of $26.80. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 52.18 and a beta of 0.42.
Coty (NYSE:COTY) last issued its quarterly earnings results on Tuesday, August 16th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. Coty had a net margin of 3.61% and a return on equity of 80.72%. The company earned $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts anticipate that Coty Inc. will post $1.11 earnings per share for the current year.
COTY has been the subject of a number of research analyst reports. B. Riley reiterated a “sell” rating and issued a $19.50 target price on shares of Coty in a research note on Monday, June 20th. Zacks Investment Research upgraded shares of Coty from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a research note on Thursday, September 22nd. Bank of America Corp. set a $29.00 target price on shares of Coty and gave the company a “hold” rating in a research note on Wednesday, August 31st. Citigroup Inc. lifted their target price on shares of Coty from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 25th. Finally, Berenberg Bank initiated coverage on shares of Coty in a research note on Friday, September 9th. They issued a “sell” rating and a $23.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Coty presently has an average rating of “Hold” and an average price target of $27.57.
In related news, major shareholder Cosmetics B.V. Jab acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average price of $26.89 per share, with a total value of $2,016,750.00. Following the purchase, the insider now directly owns 6,469,861 shares in the company, valued at $173,974,562.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.10% of the company’s stock.
Coty Inc is a beauty company. The Company operates through four segments: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition. Its fragrance products include a range of men’s and women’s products. Its fragrance brands include Calvin Klein, Marc Jacobs, Davidoff, Chloe, Balenciaga, Beyonce, Bottega Veneta, Miu Miu and Roberto Cavalli.
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